Growth Drivers
Growing Concern for the Prevalence of Several Infectious Diseases
Globally, throughout the years, several infectious diseases, such as cancer, several genetic disorders and other neglected tropical diseases have spread rapidly and infected people. As a result, there is an increasing concern for the study of these diseases to reduce the spread, which in turn is raising the need for the isolation of the genetic information, i.e. DNA and RNA, for processing nucleic acid-based diagnostics. Nucleic acid-based isolation techniques is one of the most advanced form of genetic engineering analysis which has significantly helped to advance in the healthcare sector. Further, with advancements in the search for several next-generation sequencing (NGS) technologies and for advanced research in genetic engineering study are some of the factors anticipated to drive the growth of the market.
Challenges
High Costs Involved in Isolation and Purification Processes
The high prices of the instruments associated with these procedures raises the overall isolation and purification costs are one of the key restraints anticipated for the growth of the market.
Base Year |
2023 |
Forecast Year |
2024–2036 |
CAGR |
8.2% |
Base Year Market Size (2023) |
USD 5.65 billion |
Forecast Year Market Size (2036) |
USD 15.74 billion |
Regional Scope |
|
Author Credits: Radhika Pawar
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